Blackbaud (NASDAQ:BLKB) Downgraded by BidaskClub

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BidaskClub cut shares of Blackbaud (NASDAQ:BLKB) from a hold rating to a sell rating in a research note released on Saturday morning, BidAskClub reports.

Several other brokerages also recently weighed in on BLKB. ValuEngine downgraded shares of Blackbaud from a buy rating to a hold rating in a report on Friday, April 17th. BTIG Research started coverage on shares of Blackbaud in a research note on Thursday, April 16th. They issued a neutral rating on the stock. Needham & Company LLC reissued a hold rating on shares of Blackbaud in a report on Wednesday, May 6th. Finally, DA Davidson lowered their price target on shares of Blackbaud from $89.00 to $50.00 and set a neutral rating on the stock in a report on Tuesday, April 7th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The company currently has an average rating of Hold and an average price target of $80.75.

Shares of BLKB opened at $57.12 on Friday. The firm has a market capitalization of $2.75 billion, a PE ratio of 154.38, a price-to-earnings-growth ratio of 11.72 and a beta of 1.10. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.69 and a quick ratio of 0.69. The company’s fifty day moving average price is $57.29 and its 200-day moving average price is $64.97. Blackbaud has a 1-year low of $38.22 and a 1-year high of $97.35.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.05. The business had revenue of $223.62 million for the quarter, compared to the consensus estimate of $221.97 million. Blackbaud had a return on equity of 15.99% and a net margin of 1.95%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. As a group, research analysts anticipate that Blackbaud will post 1.11 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in BLKB. Victory Capital Management Inc. increased its holdings in Blackbaud by 0.4% in the fourth quarter. Victory Capital Management Inc. now owns 40,433 shares of the technology company’s stock valued at $3,218,000 after buying an additional 179 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Blackbaud by 17.4% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,303 shares of the technology company’s stock valued at $72,000 after acquiring an additional 193 shares during the period. Private Capital Group LLC increased its stake in shares of Blackbaud by 25.2% in the 1st quarter. Private Capital Group LLC now owns 1,208 shares of the technology company’s stock valued at $67,000 after purchasing an additional 243 shares in the last quarter. Advisor Group Inc. raised its holdings in Blackbaud by 21.6% in the 4th quarter. Advisor Group Inc. now owns 1,503 shares of the technology company’s stock worth $120,000 after purchasing an additional 267 shares during the period. Finally, Brookstone Capital Management raised its holdings in Blackbaud by 4.8% in the 1st quarter. Brookstone Capital Management now owns 6,597 shares of the technology company’s stock worth $366,000 after purchasing an additional 303 shares during the period.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.

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Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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